September 19, 2016
Boston-based Rockpoint Group, L.L.C. sold San Mateo BayCenter, a roughly 300,000-square-foot office asset, to San Francisco-based Rubicon Point Partners for a reported price tag north of $150 million. Rockpoint originally purchased the three-building campus in September of 2014 for $128.5 million.
A recently completed substantial renovation and repositioning of the 88% leased property includes the addition of a state-of-the-art indoor/outdoor community area, with amenity space and cafe, full lobby renovations, a revitalized fitness center and locker rooms, and new landscaping and signage.
NGKF Capital Markets’ Steve Golubchik, Edmund Najera and Ben Bucci marketed the property for sale, together with HFF’s Michael Leggett.
For comments, questions or concerns, please contact Dennis Kaiser